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Hong Kong. Fintech agreement with United Kingdom signed

On September 22, 2017 in London, Special Representative for Hong Kong Economic & Trade Affairs to the European Union Shirley Lam and Director General for Financial Services of the UK Katharine Braddick signed a financial and technical agreement to promote bilateral cooperation in promoting financial innovation.

This agreement provides the financial and technical firms from the two states with a solid foundation for the exchange of know-how to explore new business opportunities. The agreement shows an attempt of governments to promote the development of financial technologies and to cooperate with other financial and technical centers. Thus, Hong Kong financial and technical companies can expand their business in the UK, and Hong Kong, in turn, welcomes the presence of British financial and technical companies, which enables the latter to use Hong Kong for entering in the markets of mainland China and Asia in general.

During a visit to London, the Hong Kong delegation visited the Accint Fintech Innovation Lab and the Royal Bank of Scotland to learn about the latest developments in the British financial and technical environment and, at the meeting with members of the All-Party Parliamentary groups on China and financial technologies, discussed the global economic prospects for financial sphere.

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